SHENZHEN, China, November 20, 2014 /PRNewswire/ — China Information Technology, Inc. (the "Company") (Nasdaq GS: CNIT), a leading provider of integrated cloud-based platform, exchange, and big data solutions to the Chinese new media industry today announced that 300 units of its cloud-based new media terminals have been installed inside elevators at premium residential buildings in Shenzhen. These installations were conducted under a contract with a leading advertising agency for elevator terminal rentals and related platform services. The new media terminals are installed on elevators inside the Longgang and Baoan premium residential area, which have a combined population of over 120,000 residents.
Mr. Jianghuai Lin, Chairman and CEO of CNIT stated, "This initial contract in the elevator segment demonstrates the versatility of our new media platform and our successful penetration into another new vertical. In addition to advertising and disclosure of general public information, our cloud-based new media elevator terminals incorporate functionality for safety monitoring and operating supervision. Leveraging on our strong technological capability and deep understanding of customer needs, we have created a comprehensive communications and safety solution for the elevator sector. We are proud to launch this robust platform in our home market of Shenzhen and look forward to extending this innovation to many other markets nationwide."
Through the CNIT Cloud-App-Terminal elevator platform, CNIT’s new media terminals display both advertising and public information on 40-inch vertical displays with high-definition digital output. The multi-functional system enables advertising agencies to remotely manage all of its content, while the same terminals receive and transmit technical data to property management, elevator safety supervision and maintenance bureaus on a real-time basis.
About China Information Technology, Inc.
China Information Technology, Inc. (NASDAQ: CNIT) is on a mission to make advertising accessible and affordable for businesses of all sizes. CNIT is a leading provider of integrated cloud-based platform, exchange, and big data solutions to the Chinese new media industry. Its Internet ecosystem enables all participants of the new media community to efficiently promote brands, disseminate knowledge, and exchange resources. Through continuous innovation, CNIT is leveraging its proprietary Cloud-Application-Terminal technology to level the competitive landscape in the new media industry and deliver value for its shareholders, employees, customers, and the community. To learn more, please visit http://www.chinacnit.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China Information Technology, Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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